Lead brewer Nick Chase washes down a tank as he brews beer at Pateros Creek Brewing Co. on Friday in Old Town Fort Collins. / V. Richard Haro/The Coloradoan

Customers line the bar at Pateros Creek Brewing Co. Friday in Old Town Fort Collins. / V. Richard Haro/The Coloradoan

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Big changes are coming to Old Town Fort Collins, from a possible hotel and convention center to the closure of longtime favorite restaurants and the opening of new ventures lured by the city’s national reputation for livability and thriving beer culture.

Some high-profile restaurants and bars have closed in recent months, and several more are pending. Old Town Square is set for a makeover. And many eyes are focused on the now-closed Armadillo restaurant site, which is owned by the deep-pocketed Bohemian Companies and widely considered a leading contender to house a new hotel with convention space.

“It’s going to be exciting to see what all shakes out. We’ve got lots of good things happening,” said Ed Stoner, a former city mayor and longtime manger of downtown properties, including Old Town Square itself.

Stoner said the hotel possibility alone could be a “game changer” for the area, bringing in hundreds of new visitors each week. Like many area experts consulted by the Coloradoan, Stoner said a decision on the hotel is unlikely to come until and unless Woodward Inc. commits to building a new corporate campus on the 100-acre Link-N-Greens golf course at the corner of Lemay and Lincoln avenues.

Billonaire philanthropist Pat Stryker’s Bohemian Companies already owns several large parcels in the Old Town area, including the old Steele’s Market site and the Armadillo property. Stu MacMillan, who directs Bohemian’s real estate arm, said the company is always on the lookout for projects and investments that will help Old Town thrive.

“We were surprised and disappointed that Armadillo closed their doors, and now that they have, we are looking at all our options,” he said. “We can’t rule out many alternatives, including a hotel, but we don’t have any plans for a music venue on that site.”

Regardless of whether Woodward moves and a hotel comes in, change is afoot.

The closure of the Beach House Grill on College Avenue will give birth to the joint venture pub-restaurant of Breckenridge Brewery and Wynkoop Brewery. Zquila recently opened on College Avenue. And longtime Old Town fixture Rasta Pasta is vacating its space at the corner of Walnut and Pine streets later this year, making way for an expansion of local favorite La Luz, which will vacate its next-door space for a new but as-yet undetermined restaurant, said La Luz owner Peter Schultz.

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Just south along College Avenue, the closure of Gelazzi may mean the expansion of an existing restaurant or space for a new one. And The Blind Pig Pub is now under construction on Linden Street at the site of the shuttered Wall Street/Sports eXchange.

Stoner said the owners of The Blind Pig also own a series of restaurants in Texas and are spending a lot of money to prepare the space for the pub, which will offer live music and dancing. Stoner said the recent turnover of the space, which has housed a series of short-lived bars that struggled with management and liquor-licensing issues, should end with the arrival of The Blind Pig.

Blogger Kristen Mastre of Feasting Fort Collins said higher rents in Old Town are forcing many restaurateurs to consider whether it’s worth staying. Locally owned restaurants often have narrower margins and smaller wallets, she said, while chain restaurants can call upon corporate resources to stay afloat until they build sufficient traffic. Mastre said landlords need to think carefully about how lease rates could affect the balance of restaurants in the area.

“And I think the biggest concern becomes that the lease rates change so much that does Old Town becomes chain central?” she said. “It changes the culture of Old Town. A lot of people go to Old Town to experience the real Fort Collins flavor, and if it’s just more chain restaurants, that really doesn’t reflect the culinary diversity we do have.”

She added: “Hanging out in Old Town will lose its appeal.”

Pateros Creek Brewing co-owner Steve Jones said he’s glad to have secured a spot at the top end of Old Town back in 2011. He said the wide variety of mom-and-pop stores and bars helps create a pedestrian-friendly atmosphere.

“When people are willing to come to Old Town and shop the local stores, that’s going to help me out,” he said. “We complement each other, instead of competing.”

Jones said he appreciates that Old Town has both a solid core of businesses and a small amount of turnover each year. Jones said he hopes to see the area of College Avenue where his brewery sits — 242 N. College Ave. — gain more attention and visitors over the next few years.

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“Of course there’s always going to be a refresh,” he said of the changes coming. “To have things rotating every six months is not a good thing.”

Stoner said it’s entrepreneurs like Jones who are helping put Old Town on the national radar and in trade magazines extolling the city’s virtues. He said he’s been talking to potential tenants from all over the state and country.

“I think the big thing right now is the craft beer culture in Fort Collins, which has gotten the attention of a lot of people. And even if they don’t do craft beer, they want to be part of it,” said Stoner.

Jones said he’s pleased by the synergies that come from being in Old Town, and he hopes to see the community continue to support locally owned businesses offering goods and services they can’t get anywhere else.

Like several business owners interviewed by the Coloradoan, Jones said having a hotel in Old Town could supercharge the area with out-of-town visitors looking to tap into the area’s beer culture.

“Overall it could be a big help. Having more people come to Old Town? It’s a win for everybody,” Jones said.